Some Thoughts on the Current State and Prospects of the Greek Commercial Banking System

Evangelos A. Voloudakis
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Evangelos A. Voloudakis: Deree College

Chapter 8 in Issues in Contemporary Economics, 1992, pp 94-109 from Palgrave Macmillan

Abstract: Abstract The commercial banking system in Greece cannot be said to have developed in a competitive environment, particularly during the postwar period, when it was forced to operate under tight credit rules, not to mention endless political interference, which finally led to its quasi-nationalisation. From being a mere distributional network of the financial resources — new money and counterpart funds of foreign aid — of the Bank of Greece, unable to mobilise private savings mainly as a consequence of wartime hyperinflation, it turned into a highly liquid banking system as saving deposits poured in at spectacular rates with the stabilisation of the economy and a steep rise in the deposit interest rate in 1956.

Keywords: Monetary Policy; Central Bank; Banking System; Private Bank; Treasury Bill (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1007/978-1-349-11955-4_8

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